Patient Engagement Solutions Market Worth $70.3 Billion By 2030

The global patient engagement solutions market size was valued at USD 16.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.4% from 2022 to 2030.

The global Patient Engagement Solutions Market size is expected to reach USD 70.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.4% from 2022 to 2030. The key factors fueling the market growth include rising digitalization across healthcare, increasing prevalence of chronic conditions, and technological advancements. The COVID-19 pandemic boosted digitalization across healthcare. This, in turn, has fueled the awareness and adoption of patient engagement solutions, thus propelling the market growth.

As healthcare providers were battling with the constant upsurge in cases, patients were looking to digital technologies for care delivery and monitoring. This contributed to the market growth. Various key companies released multiple COVID-19-related features as part of their patient engagement lineup to enhance their offerings. In December 2020, athenahealth released new features to its athenaOne platform-such as scheduling, workflow, documentation, and reporting capabilities-to enable immediate administration of COVID-19 vaccines as and when they become available.

The necessity of social distancing resulted in the demand for remote patient monitoring solutions, along with the prerequisite for the precise and timely exchange of patient wellbeing records. The pandemic has also made healthcare professionals look for alternate methods to traditional processes and systems. As a result, market participants had come up with COVID-19-related features into their existing patient engagement solutions. For instance, in June 2020, Orion Health partnered with a network of more than 350 healthcare facilities called Keystone Health Information Exchange to enable real-time automated COVID-19 reporting for improved public health data collection across Pennsylvania and New Jersey.

As per a survey by Twilio, a provider of cloud communications and customer engagement, 68% of respondents reported accelerated digitalization in their organizations due to COVID-19. Companies reported easing of barriers at organization levels such as getting executive approvals, lack of clear strategy, and reluctance to replace legacy software. In fact, according to the Chief Product Officer at Mount Sinai Health System, their newly developed text�'to�'chat platform witnessed a 10x surge in volume due to the pandemic. The growing number of smartphone users around the globe expedited the adoption of digital health technologies across the sector both from providers and consumers, which, in turn, has augmented the dependability of patients on mHealth apps.

Moreover, in March 2019, the American Medical Association entered into a collaboration with Patient Point with the aim to access point of care to help prevent the occurrence of cardiovascular diseases and type 2 diabetes. Using PatientPoint technology, approximately 6,500 practicing doctors across the U.S. are expected to educate individuals regarding disease prevention. Programs such as these are expected to fuel the market growth over the forecast period. 

Related Press Release@ Patient Engagement Solutions Market Report

Patient Engagement Solutions Market Report Highlights

• The web and cloud-based segment emerged as the largest delivery type segment in 2021 as it supports hassle-free information flow between patients and healthcare providers. Moreover, bulk data can be stored in these platforms and accessed remotely
• By component, the software and hardware segment dominated the market in 2021 owing to the continuous development in patient engagement solutions, along with the increasing applications in health and wellness, patient education, and chronic disease management
• The rising prevalence of chronic diseases such as cardiovascular diseases, obesity, and diabetes, which require constant monitoring, is expected to drive the demand for patient engagement solutions in the coming years
• The communication functionality segment dominated the market in 2021 as it forms the core of any patient engagement solution. Market players are continuously releasing upgrades and new features to enhance offerings. For instance, in November 2020, Cerner partnered with WELL Health Inc. to boost the communication capabilities of its patient portal- HealtheLife
• North America dominated the global market in 2021 owing to the increased adoption of m-health and electronic health records (EHRs) and growing investments in patient engagement software by major companies
• Companies are adopting various strategies to sustain competition. New product/solution development, partnerships, mergers, acquisitions, strategic collaborations, and geographical penetration are some of the key strategies adopted by market players 

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